It came with a shock to most Americans when Hostess Brands declared bankruptcy in 2012 and announced that it was going out of business. Here’s revisiting what happened when the top brand – who produced iconic American products like Twinkies and Wonder Bread – filed a motion with the U. S. Bankruptcy Court seeking permission to close down and sell its assets. Such drastic action was taken after expensive labour disputes and meant that about 18,500 Americans would be unemployed. However, it was not long after that a judge ordered the company into mediation with union workers. Amongst all these confusing chaos, Harlan Platt, professor of Finance at Northeastern University, talked about what he thought this meant for the company and America.